# In the matter of Abhijit Guhathakurta RP of Videocon Group Companies, Company Appeal (AT) (Ins) No. 569 of 2021

> NCLAT judgment dated 2021-08-09. Citation: TCN-2021-NCLAT-00145. The case involves an appeal against an order by the Adjudicating Authority approving a…

- **Court:** NCLAT
- **Order date:** 9 Aug 2021
- **Citation:** TCN-2021-NCLAT-00145
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/abhijit-guhathakurta-rp-of-videocon-group-companies-company-appeal-at-ins-no-569-f239f3fc

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority approving a Resolution Plan. The Adjudicating Authority had raised concerns regarding the valuation of assets, confidentiality clauses, and the number of authorized representatives for the applicant in the Committee of Creditors (CoC) meetings. The Adjudicating Authority requested IBBI to examine these issues.

## Facts

The Resolution Professional of Videocon Group Companies, Abhijit Guhathakurta, filed an appeal against an order of the Adjudicating Authority. The Adjudicating Authority approved the Resolution Plan but raised concerns about the valuation of assets of the 13 companies, the confidentiality of liquidation and fair market values shared with the CoC members, and the high number of authorized representatives from Deloitte Touche Tohmastsu India LLP attending CoC meetings. The Adjudicating Authority requested IBBI to examine these issues. The Resolution Professional, feeling aggrieved by the remarks, filed an appeal seeking to expunge those remarks. The CoC meetings had a large number of representatives from Deloitte Touche Tohmastsu India LLP, which raised questions about

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's remarks …

**Ratio:** The Adjudicating Authority is empowered to oversee the CIRP process and ensure compliance

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**Reasoning:** The court found that the Adjudicating Authority's observations were not directed against

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**Interpretation:** The Adjudicating Authority's role includes scrutinizing the resolution process

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**Application:** The court applied this principle to the facts, determining that the

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## Parties

- **Judges:** Jarat Kuma…; Ashok Kumar…
- **Appellants:** Abhijit Guhathakur…
- **Respondents:** Videocon Group…

## Timeline

- **2021-08-09 — Order Da…**: The date the order was…
- **2021-06-08 — Impugned Ord…**: Date of the order passed by the Adjudicating…

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